EUR/USD Current price: 1.2984
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Not a good day for EUR, after ECB’s Visco said ECB is ready to intervene again, cutting rates as soon as next week while record unemployment in the EU also weighed on the common currency, sending EUR/USD to a daily low of 1.2967. With local share markets in red and US futures pointing for a negative opening, the pair struggles to regain key 1.3000 level. The hourly chart shows indicators in negative territory, and 20 SMA gaining bearish tone above current price, suggesting more slides ahead, while in the 4 hours chart technical readings bend lower losing yesterday’s upward momentum. The 1.2960 area stands as immediate support, and bulls will start to ease if the level is taken.
Support levels: 1.2960 1.2920 1.2880
Resistance levels: 1.3020 1.3060 1.3100
GBP/USD Current price: 1.5218
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The GBP/USD reached 1.5239 before stalling, attached now to the 50% retracement of its latest bullish run around 1.5220. The hourly chart shows price quickly bouncing on pullbacks despite technical readings are bearish, suggesting buying interest is still high in the pair regardless. In the 4 hours chart indicators maintain the positive tone near overbought territory, with scope now for a test of 1.5260, 200 EMA in the mentioned time frame.
Support levels: 1.5205 1.5165 1.5130
Resistance levels: 1.5220 1.5260 1.5305
USD/JPY Current price: 100.53
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Yen continued grinding higher against most rivals, reaching 100.21 against the greenback, during current European session. The USD/JPY hourly chart maintains the bearish tone as momentum retraces from its midlines while moving averages gain bearish slope well above current price. In the 4 hours chart technical readings are also bearish, but the downside could now remain limited if US indexes manage to bounce. Key support and bearish target is the 99.70 area, former highs from early this year.
Support levels: 100.25 100.00 99.70
Resistance levels 100.65 101.00 101.25
AUD/USD: Current price: 0.9590
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Unable to hold its gains, the AUD/USD is back below the 0.9600 level, presenting a strong bearish tone in its hourly chart, and having been as low as 0.9565 today. With no room for recoveries, according to technical readings also in the 4 hours chart, price is headed back towards 0.9520 weekly low, while selling interest will surge on approaches to the 0.9660 area.
Support levels: 0.9565 0.9520 0.9470
Resistance levels: 0.9610 0.9660 0.9700
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EUR/USD struggling to hold its gains
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